So I don’t tend to use the appraisal on this property as an example of what is normal for my deals.

They tend to cost more to construct then they add in value, they are generally more valuable for a property you are holding as a way to generate more income.

They tend to have less fluff and more actionable useable content.

Our voucher tenants tend to stay much longer than our cash paying tenants.

Today, the door is boarded up and there is no glass in the upper-story windows.Nicole Lawrence, executive director of the Tenant Union Representative Network, said such deterioration tends to spread blight throughout neighborhoods, diminishing safe, affordable housing opportunities in communities where they’re most needed.

When looking at discounting properties to find a deal, I tend to lean into what the seller is looking for when I know I'm holding. 

Don't spend a lot on improvements as they tend to get damaged with every tenant.  

If they are projecting a 24% IRR, I know in 5 milliseconds that the sponsor is likely marketing to unsophisticated investors.Ideally you should do your own underwriting, but I found that sponsors who are honest enough to project a 12-14% IRR tend to be the most reliable ones who will be the best stewards of their investor's capital.

High Cash on Cash tend to be lower IRR deals, because they tend to appreciate more slowly on average.Lessons learned: your two biggest cash outflows will come from Capex and bad tenants.  

Banks who offer construction financing tend to be 75-80% LTC and alternative/hard money lenders will sometimes offer higher LTC leverage than that.